Replies to post #93409 on KAT Exploration Inc (KATX)

[Biochemist2002]

I don't know if Cabo will be the driller just yet, but I'd bet that whoever it is, we already have the contract signed, sealed, and delivered.

Remember from the June 4, 2010 8-K

Note1:
KAT Exploration, Inc. has entered into a Diamond Drilling Contract dated February 24, 2010 in which Cabo Drilling (Atlantic) Corp. will perform certain drilling
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7299124

But the company didn't PR that they put out the request for tenders until March 15th
http://www.marketwire.com/press-release/Kat-Exploration-Calls-Tenders-for-Drilling-Operations-on-Its-Handcamp-Gold-Property-1196369.htm

And they PR'd that they accepted Cabo's bid on April 5,2010
http://www.marketwire.com/press-release/KAT-Exploration-Accepts-Drill-Contract-Tender-From-Cabo-Drilling-Drill-15-Holes-1200-1166277.htm

So, they ALREADY had the contract signed, sealed, and delivered BEFORE any of it was PR'd.

Just to clarify for anyone who may have misunderstood my post...I wasn't saying they already gave the Rusty Ridge contract to Cabo (or that Cabo was even getting the contract), I was saying that the PRs usually come out AFTER the the fact. As in the case with the Handcamp program, they had already entered into the drill contract (for HANDCAMP) back in February, but we weren't told about the request for tenders till March and the award to Cabo until April.

Well, we shall see.

Either way, I was glad to receive the "small update" as Jack put it on on the blog. Status reports are nice. Also, I'm pleased to see the put up the drill hole targets. I can't wait to drill right through the center of that momma. I hear, if they double-shift it, they could drill 200 ft per day.
DRILL BABY DRILL!

[geo_newfie]

Has there been a PR on the number of holes??? I think they have two primary targets, but that doesn't necessary mean they are only drilling two holes. They could drill several holes in the same location, just at different angles too.

[GoNiners]

Repeat costumer discount? This ain't Pottery Barn. :-D

For two holes I personally don't think it's smart to waste time nitpicking Cabo for a discount. If Cabo does good work they will get what they are worth and we are fortunate to have a reliable company like them available to us. No need for Ken to rock the boat for relatively small change.

Now if Ken lined them up with a lot of work with RR and HC and our other properties thru the fall and into next year then a company like Cabo which I assume is in high demand would consider a better rate for KATX to secure a lot of work. This would also expedite getting drill programs progressing faster.

GoNiners

[jimmyturbine]

I can I ask some silly questions?
They are driling holes and getting results to what is there but who will eventually mine the metals?
Have they mined anything to date?
Does this company have revenues and if so how much and if not, when?

Thanks in advance,
jimmy

[gump90]

Ha Ha that don't work. Drilling Contractors rule. There is no shortage of work for them and they don't have to give discounts. Clients are lucky to even find a drill on short notice.